The average reservation wage of U.S. jobs seekers — the lowest annual pay workers would accept for a new job — climbed to a record high of $78,645 in July, up from $72,873 at the same time last year, according to the survey.
Combined with:
Yet the average full-time wage offer received in the past four months was $69,475, itself a marked increase from $60,764 last July.
So that’s a ~13.5% increase in full-time wage offers vs a ~7.5% increase in ask. This seems like a non-story then, yes? Inflation has pushed wages higher which has pushed expectations higher. However, the offer increase is higher than the ask increase so… Am I missing something here?
I agree it’s a non story. I mean, take out the numbers and the headline is pretty much “employees want more money and employers don’t want to give it”.
But that’s my point, employers are giving it (kinda, I’ll circle-back to this). The full-time offer has gone up $9k in the last 12 months. Contrasted with the ask that has only gone up $6k in that same time-frame.
Now, is $70k a livable wage? Hard to say without a more specific location. In bumfuck Alabama, probably. In LA, hell no.
So:
Combined with:
So that’s a ~13.5% increase in full-time wage offers vs a ~7.5% increase in ask. This seems like a non-story then, yes? Inflation has pushed wages higher which has pushed expectations higher. However, the offer increase is higher than the ask increase so… Am I missing something here?
I agree it’s a non story. I mean, take out the numbers and the headline is pretty much “employees want more money and employers don’t want to give it”.
But that’s my point, employers are giving it (kinda, I’ll circle-back to this). The full-time offer has gone up $9k in the last 12 months. Contrasted with the ask that has only gone up $6k in that same time-frame.
Now, is $70k a livable wage? Hard to say without a more specific location. In bumfuck Alabama, probably. In LA, hell no.
In bumfuk Alabama that’ll make you one of, if not the, richest people there.
I agree with you totally. I made the same point lower down and it got downvoted ¯\_(ツ)_/¯